Whaaaaaaaaaaaaaaaaaaaat?
Excuse the ever-lovin' hell out of me, but just exactly how does Obama define "promoting business?" Would it be a definition out of the same book that describes the war on terror as an "overseas contingency operation;" a terrorist attack as "a man-caused disaster;" and an illegal alien as a "displaced foreign traveler?" Is it out of the same book that defines a program to teach African men how to wash their privates as a program that will help to "stimulate our economy and grow jobs at home?"
Do his constant attacks on America's small business owners as being nothing but a bunch of "millionaires and billionaires" who want tax cuts they don't need promote business? How about blaming Wall Street for the recession, instead of laying the blame where it belongs, squarely on the Democrat-controlled congress of the United States over the past 10 years, promoting business? How about his incessant demonization of the health insurance industry?
Or this: Referring to the private sector as "the enemy," as Obama has done ... how does that show his love of business?
A government takeover of the healthcare and financial industries along with looming tax hikes .. gee, I guess you could consider those as pro-business plans as well. Speaking of looming tax hikes, there is no better indication of Obama's "love" for businesses than his proposed tax increases on the very people who provide the jobs.
The Heritage Foundation just released a report that probably sounds like a snoozer to most of you: Obama Tax Hikes: The Economic and Fiscal Effects. But if you care about your children and your grandchildren and their abilities to achieve their dreams in their lifetime, you better take a minute to read over this stuff. I will provide you with some of the highlights.
Small businesses would be hit hard; 65 percent of joint filers with income above $250,000 and 50 percent of single filers above $200,000 earn business income. The numbers are not too different if only businesses reporting wage costs are counted: They are 55 percent and 42 percent, respectively. In other words, about half of those subject to the Obama tax increases are small businesses with employees. This tax increase would directly cut job creation.Yeah ... there's Obama's love for business right there!
The Obama tax plan would result in:
- Slower economic growth: Inflation-adjusted gross domestic product (GDP) would fall by a total of $1.1 trillion between FY 2011 and FY 2020. GDP in 2018 would fall by $145 billion alone. The growth rate of the economy would be slower for the entire 10-year period.
- Fewer jobs: Slower economic growth would result in less job creation. Employment would fall by an average of 693,000 per year over this period
- 238,000 fewer jobs in the critical economic recovery year of 2011; In one year alone, 2016, job losses top 876,000.
- More unemployed Americans: Slower growth in employment translates to a higher unemployment rate, which would rise more each year during the 10-year period than it would without the Obama tax hikes.
- In other words, for Americans who are unemployed now, their prospects of employment would worsen under the Obama tax plan
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